Al Huda CIBE offering "Free Shariah Advice" in this Holy Month of Ramadan

Al Huda CIBE extending its services to the USA market

Al Huda CIBE extending its services to the USA market

Islamic Banking & Finance has a Bright Future in the United States: Zubair Mughal

(Lahore) AlHuda Center of Islamic Banking and Economics (CIBE), continuing its commitment to bring Islamic finance to the United States, announces a joint-training workshop in Islamic Banking and Finance in conjunction with FAAIF and the University of New Orleans on October 06 and 07, 2014 in New Orleans, Louisiana, USA.  Al Huda CIBE, having conducted hundreds of successful training workshops all over the world is excited to enter the American markets to bring fascinating and complex Islamic finance and banking products and structures to the citizens of the United States. 

Muh. Zubair Mughal, Chief Executive Officer of AlHuda CIBE, said that Islamic Banking and Finance has immense potential in the USA market and it has come up with a blooming prominence after the emergence of International financial crisis, thereafter Islamic financial system has appeared as a sustainable and reliable financial system in the world which does not have such flaws which were the root causes of International financial crisis. He mentioned that about more than 30 Islamic financial institutions are operating in the USA but the potential is much higher as USA is suppose to be regional hub for North America, South America, Latin America and Caribbean countries, a handsome demand of Islamic financial products already exist in Brazil, Argentina, Canada and others countries. American continent is dwelling 8 million approx Muslim population, amongst them Canada have 2% Muslim Population, 0.8% of the U.S. population, Muslims constitute about 1 percent of the North American population and Argentina has the largest Muslim population in Latin America with up to 2% of the population, which shows a big appetite of Islamic financial products in the region.

He mentioned that we have chalked out a detailed strategy to penetrate into the region with our services and this workshop is our entry point to introduce Islamic financial services in this region. He also mentioned that the collaboration of University of New Orleans and FAAIF for upcoming workshop will further strengthen our vision to achieve our optimum goal for the development of Islamic finance Industry.

FAAIF CEO Camille Paldi is looking forward to this tremendous opportunity to bring Islamic finance to the people of the United States, which is her home country, and she is very much hopeful that the American people are just as excited as she is about learning this distinct form of Holy Book finance.  Not only does Paldi hope to enrich the lives of US citizens, she aims to help US companies stay competitive in the International financial markets and keep America strong #

Sanctioned: Ministry bans sale, import of 23 food items

Sanctioned: Ministry bans sale, import of 23 food items

AlHuda CIBE Eyes African Islamic Finance Market

AlHuda Centre of Islamic Banking and
Economics (CIBE) chalks down the strategy to offer its services in African
countries to promote Islamic banking and finance through consultancy, Research,
education and capacity building where there is an excellent potential related
to this industry. This was said by Mr. Muhammad Zubair Mughal, Chief Executive
Officer, AlHuda CIBE, while talking to the media in the opening ceremony of “6
months road map for the strategy of Islamic Banking and Finance in Africa”.
According to the strategy, AlHuda CIBE will begin different initiatives on 15
African countries from June 2014 to December 2014. In this, AlHuda CIBE will
establish Islamic microfinance institutions; will offer Takaful consultancy
services, technical and Shariah support, and help giving education and capacity
building to the relevant personnel. AlHuda CIBE has also chalked the plan of
organizing “African Islamic Banking and Finance Road Show 2014” in 6 African
countries i.e. South Africa, Tunisia, Kenya, Mauritius, Tanzania and Nigeria for the awareness and
remove the capacity constraint from the mentioned countries.

He further added that
this is quite a wrong conception that Islamic finance is only taking its roots
in North African countries e.g. Tunisia, Morocco, and Algeria etc, rather its
potential exists in all African continent. Islamic banking and finance is
growing rapidly in Nigeria, Libya, South Africa, Kenya and Morocco, while Egypt,
Sudan, Tunisia have already taken good initiatives in the mentioned field. He
said that there is also a rising trend of Islamic banking and finance in
Senegal, Mauritania, Uganda, Ghana and Ethiopia. He said, to tap the African
Islamic finance market in better way, Alhuda CIBE has been incorporated in
South Africa, Uganda and Dubai to provide better and prompt services to their  clients according to International standards.

Analyzing Islamic financial
industry of Africa, he added that, according to a careful estimate the total
volume of Islamic finance in Africa is 78 Billion USD, which is less than 5%
share of global Islamic finance industry, out of that Islamic Banking have 81%
share, Islamic Fund 7 %, Sukuk 5 %, Takaful 6%, and Islamic microfinance have only
1% share in the African Islamic Finance Industry,  while  96+
Islamic banks, 29 Islamic Funds, 31 Islamic Microfinance Institutions and more
than 41 Takaful companies are working over there.

He also emphasize that
the increasing trend of poverty in Africa can be reduced by utilizing Islamic
Microfinance methodology, the multilateral organizations e.g. African
Development Bank, Islamic Development Bank, GIZ, IFAD and world bank can play a
pivotal role in this direction to achieve the optimum goal of poverty
alleviation and social development #